Energy Transfer LP's 2024 Annual Report: A Year of Growth and Strategic Initiatives

Energy Transfer LP (NYSE: ET) has released its 2024 annual report, highlighting a year of strong financial performance, operational growth, and strategic initiatives that position the company for continued success. The Partnership reported net income attributable to partners of $1.08 billion for the three months ended December 31, 2024, with net income per common unit (basic) of $0.29. Adjusted EBITDA for the same period was $3.88 billion, an 8% increase from the same period last year, while Distributable Cash Flow attributable to partners, as adjusted, was $1.98 billion.



Energy Transfer's operational highlights for the fourth quarter of 2024 include:

* Crude oil transportation volumes up 15%
* NGL transportation volumes up 5%
* NGL exports up more than 2%
* Midstream gathered volumes increased 2%
* Interstate natural gas transportation volumes up 2%

The Partnership also completed several strategic initiatives during the year:

* Completed the initial phase of the Sabina 2 pipeline conversion from Mont Belvieu to Nederland, increasing capacity for multiple products from 25,000 barrels per day to 40,000 barrels per day.
* Optimized the Grey Wolf processing plant in the Permian Basin, increasing capacity from 200 MMcf/d to 250 MMcf/d.
* Commissioned the first of eight, 10-megawatt natural gas-fired electric generation facilities to support the Partnership’s operations in Texas.



Energy Transfer's strategic highlights for 2024 include:

* Entered into a long-term agreement with Cloudburst Data Centers, Inc. to provide natural gas to CloudBurst's flagship AI-focused data center development in central Texas.
* Reached a positive final investment decision for the construction of the Hugh Brinson Pipeline, an intrastate natural gas pipeline connecting Permian Basin production to premier markets and trading hubs in Texas.
* Announced a 20-year LNG Sale and Purchase Agreement to supply 2.0 million tonnes of LNG per annum to Chevron U.S.A. Inc. related to its Lake Charles LNG project.
* Approved construction of an additional processing plant in the Midland Basin, with a capacity of approximately 275 MMcf/d and expected to be in service in the first half of 2026.

Energy Transfer's financial highlights for 2024 include:

* Announced a quarterly cash distribution of $0.3250 per common unit ($1.30 annualized) for the quarter ended December 31, 2024, an increase of 3.2% compared to the fourth quarter of 2023.
* As of December 31, 2024, the Partnership's revolving credit facility had an aggregate $2.21 billion of available borrowing capacity.
* For the three months ended December 31, 2024, the Partnership invested approximately $1.22 billion on growth capital expenditures.

Energy Transfer's 2025 outlook includes:

* Adjusted EBITDA expected to range between $16.1 billion and $16.5 billion.
* Growth capital expenditures expected to be approximately $5.0 billion, with maintenance capital expenditures expected to be approximately $1.1 billion.

Energy Transfer LP's 2024 annual report demonstrates the company's strong financial performance, operational growth, and strategic initiatives that position it for continued success in the energy sector. The Partnership's ability to grow volumes, increase capacity, and diversify its operations has led to an 8% increase in Adjusted EBITDA and a projected range of $16.1 billion to $16.5 billion for 2025 Adjusted EBITDA. Energy Transfer's strategic initiatives, such as the long-term agreement with Cloudburst Data Centers, the Hugh Brinson Pipeline, and the Mustang Draw processing plant, align with the company's long-term vision and growth prospects by expanding its customer base, increasing its pipeline network, and enhancing its processing capabilities.